Wall Street brokerages forecast that Sealed Air Corp (NYSE:SEE) will announce $0.67 earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have made estimates for Sealed Air’s earnings, with estimates ranging from $0.64 to $0.72. Sealed Air posted earnings of $0.64 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.7%. The firm is scheduled to announce its next earnings report on Wednesday, November 4th.
On average, analysts expect that Sealed Air will report full year earnings of $2.92 per share for the current financial year, with EPS estimates ranging from $2.86 to $2.99. For the next financial year, analysts expect that the business will report earnings of $3.09 per share, with EPS estimates ranging from $2.97 to $3.20. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Sealed Air.
Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.54 by $0.22. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Sealed Air had a negative return on equity of 240.81% and a net margin of 8.24%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS.
SEE has been the subject of several research reports. Zacks Investment Research raised Sealed Air from a “sell” rating to a “hold” rating and set a $37.00 price objective for the company in a report on Thursday, July 16th. G.Research reaffirmed a “buy” rating on shares of Sealed Air in a report on Monday, August 10th. KeyCorp reaffirmed a “hold” rating on shares of Sealed Air in a report on Thursday, August 6th. ValuEngine cut Sealed Air from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Finally, Robert W. Baird lifted their price objective on Sealed Air from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.10.
In other news, SVP Karl R. Deily sold 63,349 shares of Sealed Air stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $40.00, for a total value of $2,533,960.00. Following the completion of the sale, the senior vice president now owns 196,398 shares of the company’s stock, valued at $7,855,920. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Karl R. Deily sold 9,239 shares of Sealed Air stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $40.18, for a total value of $371,223.02. Following the completion of the sale, the senior vice president now directly owns 176,596 shares of the company’s stock, valued at approximately $7,095,627.28. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Signaturefd LLC grew its position in Sealed Air by 126.8% during the second quarter. Signaturefd LLC now owns 812 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 454 shares during the period. Creative Financial Designs Inc. ADV acquired a new position in shares of Sealed Air during the second quarter worth about $35,000. Glenmede Trust Co. NA lifted its stake in shares of Sealed Air by 154.2% during the second quarter. Glenmede Trust Co. NA now owns 1,543 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 936 shares in the last quarter. Private Capital Group LLC lifted its stake in shares of Sealed Air by 69.8% during the first quarter. Private Capital Group LLC now owns 2,080 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 855 shares in the last quarter. Finally, Trust Co. of Vermont lifted its stake in shares of Sealed Air by 1,206.3% during the second quarter. Trust Co. of Vermont now owns 2,299 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 2,123 shares in the last quarter. 91.55% of the stock is owned by hedge funds and other institutional investors.
SEE opened at $39.27 on Thursday. The business has a 50 day simple moving average of $39.55 and a 200-day simple moving average of $32.44. The stock has a market capitalization of $6.11 billion, a P/E ratio of 15.28, a P/E/G ratio of 2.08 and a beta of 1.24. Sealed Air has a 12 month low of $17.06 and a 12 month high of $42.74.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.63%. Sealed Air’s dividend payout ratio (DPR) is 22.70%.
About Sealed Air
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. It operates in two segments, Food Care and Product Care. The Food Care segment offers integrated packaging materials and equipment solutions to provide food safety, shelf life extension, and total cost optimization for perishable food processors in the fresh red meat, smoked and processed meats, poultry, and dairy markets under the Cryovac, Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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